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Dave; You are correct and I absolutely made that point today. I think they wanted a huge bang with it! The huge bang comes from the instant credibility they get when they file the AF's. I didn't care if they only had 2004 and 2005 done. File them. Instant credibility! I made that point very clear to ED and I hope he follows through!
I just don't think he realizes the huge impact a pinkie get's from filing AF's!
Yes. The same as eelfland in Pine Bluff. His DD has been dead on and all here should thank him! I asked if he would take a drive and do some ground work for us and he really helped my vision on what is going on in Pine Bluff and in the Country Club area!
I want to thank a poster here who via pm provided another idea to get a message to Ed. Thank you. Nothing super secret but I appreciate the confidence the poster entrusted in me.
I got home this afternoon. Saw where the price was and made three block buys. Two went through as blocks and the third was broken into 3 parts. If you look at Micks recap in post 10908. 15:22.46, 15:27.51, 15:47.31, 15:50.12 and 15:50.19. I have stated here I will buy on any dips and I did. I had not had any contact with anyone until after the close today.
I was sitting at my desk and the phone rang. Looked at the caller ID, wasn't going to take the call answered it and it was ED! I almost fell out of my chair! We talked for almost an hour and I felt bad as they are quite busy with all that is going on.
I won't get into all the topics but had a very good conversation on a wide range of topics.
About IBAC!
1. I asked Ed to ungagg the T/A and he is working on that and will let me know when it is done. I assured him that a handful of posters would seek the information. I would ask realest, Angel, liable, Dspetry and myself be the ones to contact the T/A and report our findings back to all at this board. There is a nice cross section of posters in this group of 5 and I would think that all can trust what is provided! We don't need to bombard the T/A with calls! I hope that is fair!
2. I asked if in fact the AF's were done and the answer was yes through Q3. I then asked him directly why they haven't been posted. He told me that he really wanted the Country Club included as well as Q 4 before he was going to post. I suggested he pick a good time soon and post through Q3. He was open to that idea. I personally do not feel this week or next are the best times to post the AF's. Ungagg the TA and get the CC closed, reverse merger done! That is a lot with Christmas and a 4 day week next week. He wants the CC closed by 11:59pm December 31 and they are working to get that done.
3. I asked him why not form 10. His legal people and advisers told him form 10 can take months. You submit the form and the SEC has 30 day review. They can send back questions and get another 30 days to review and so on. They wanted to be OTCBB at the start of 2007 and they decided the more expensive reverse merger into a fully reporting OTCBB was the fastest and best route to go and that is what they have PR'd and what they are doing.
4. We discussed the Country Club. They are very excited about the potential here. I am as well. They are already working on the engineering for developing the non golf course land with homes. eelfland has provided very good local DD. His information has been very accurate and I want to thank him on behalf of all as I feel and have felt he has provided all here some quality and reliable DD!
5. Yes we discussed share structure! I asked him directly why A/S were not reduced as was stated in the PR. I was told that they should have been reduced per the PR in November. That filing has never showed up at SOS Delaware and he knows that and is working to find out what happened. Yes I did ask him why then the shares were raised to 2.02 B. Ed stated that he was advised by his lawyers that with the 506 filing there had to be enough A/S listed to cover that offering. The 506 is out there to potentially bring in outside investors who would get restricted shares. I am not an expert on this and they have done very little private placement if any at this point.
6. The O/S shares are under 350 million! He doesn't have an exact number as the dividend is still being processed by the T/A. They are not dumping shares into this market and certainly not at this price!
I need a drink so I am going to pop a top for pop! and continue.
First I want to say a couple of things and I am working on a recap. I talked to both Ed and Wayne. I am very upset and this is where I will start. Some moron posted personal contact information on this site. THAT IS UNACCEPTABLE! Wayne is the President of the company we own stock in and to get harassing phone calls at home is ridiculous and it should never happen again! I apologized to him and felt so bad. He has a wife and young child and they are getting wacko phone calls up to after 2am! He was a gentleman to me on the phone and I am sure he felt the same about me!
Second I want to make clear that I sought no insider information. I did pm a few trusted people here before posting this to gage reaction. Please don't shoot the messenger here. I will post my honest assessment and all need to make their own decisions moving forward. I stated here I would try to get answers and have and am very satisfied with the answers I received.
I am working on the recap! Listen to the nice home page music and I will get this completed!
Binzur
He couldn't call you back while he was on the phone with me!
Thanks for sharing that. They want it closed before 2007 so property survey need to get done, title search, contracts and close. Thanks for your contiued efforts. Guys please respect this post and don't call these people! PLEASE!
Not sure either but "The company expects the deal to be completed within the next thirty days baring any legal complications". There could have been legal complications! Don't know but the Balance sheet on the company website through 9-30-2006 may show something.
You are correct. I am sure that will happen!
Anyone see the last trade!
Ed is very careful to get the 51% share of ownership. The same applies to the Royal Arkansas. Always better to own the 51% side than the 49% side! LOL!
IBAC is the majority owner. They were looking to buy out the minority partner. Don't know whether or not that happened but we are the majority owner there.
Hi guys! I am back! Thanks for playing so nice while I was gone! Not one deleted post!
Happy Holidays!
Binzur!
I am heading out for a bit. Be good! LOL! Back this afternoon!
LOL! That was one fast expensive hair cut! Seriously I take it that is what happens in a short squeeze. That stock just shot up a buck in a couple of minutes. Good thing you didn't walk away from your screen for too long! At least you were able to get out of a bad position! You will bounce back!
Happy Holidays
Binzur
Because it was a stock divi you didn't need to own it on December 1 to get the divi. You needed to own it at the close on December 15. The only strange thing at this point is most brokerages put all of the divis in over the weekend. Some were not payable until December 20th. That would be those who were not owners of record. Ameritrade still hasn't gotten their investors their divis as of this morning! Those people can't be very happy.
Happy Holidays!
Binzur
Twice a day snips! Come on! At this stage of things every nimrod will call at least 10 times a day til he answers. I am sorry but the message box is full! Don't sell the tenacity of the average nimrod short!
Happy Holidays
Binzur
If you bought last Friday and didn't research the past that is very dangerous in pinkie land as you have found out. Got to do your own DD before ever jumping into any stock at this level. Then you might have a chance to maybe make some money. To blame a "screwing CEO" without your doing any DD is wrong! JMHO!
Happy Holidays
Binzur
It is funny you say that. I had two people on IGGY out of all of the posters on this board. When I became moderator there were a couple of times I saw there were new posts but I wasn't seeing them on my screen. I went into the moderators section and then went back to check my iggys. The two iggys were the biggest basher and the biggest pumper! He absolutely should have been banned and I will leave it to Matt to explain. Considering all of the posters here and the wide range of posting to only have two banned both of whom were at the complete fringes of each side should say I keep an open mind and I do!
Happy Holidays
Binzur
Liable; No one can give you any evidence that this time it is any different. I will say there is a letter of engagement posted with the auditing firm. Don't believe one of those existed at that time. If you have been in this as long as I think then my response is give it a few more weeks. If you can't give it a few more weeks then sell! It is really that simple! Sell move on and enjoy the holidays! Please stop bringing up 2005! Virtually everyone here knows all about the past! Either sell or hold or buy more but make a decision and enjoy the holidays! If you are going to hold or buy more bringing up the past and constantly negative posting does you absolutely no good! If you sell you are out and can do what ever you want! Call SEC, hire an attorney what ever you want but do it after the holidays and enjoy the holiday season! Please!
Happy Holidays
Binzur
Hi Angel! Hows it going tonight! Now we can play four hand on the IBAC board! Kooky, Angel, Binzur and realest! No peakn at the cards!
Thanks KOOKY! Answered a big question for me at the end of your post. This could very well explain why A/S had to be raised in preparation for reverse merger. Also they would not want to dilute as that would be more shares staying with the shell shareholders.
"Cost: (non-trading) $150,000 - $250,000, plus 5 - 20% retained equity ownership
(trading) $250,000 - $800,000+, plus 5 - 20% retained equity ownership"
Look at the costs for a trading company. Someone who had talked to Ed did state that he said it is "expensive" to do a reverse merger.
Now the big question becomes why reverse merge instead of form 10 uplist? I am sure there are many here who could help with the answer to that! TIA
My deadline for them is coming SOON, SHORTLY and in early January they will learn what soon, shortly meant today!
Happy Holidays!
Binzur
I called the TA, others received it by e-mail, I am sure others called as well.
post 221819
If you follow the thread my response was more about the repeated sreaming SEC, FRAUD, CROOK that was being posted over and over.
Your post here is excellant and I couldn't agree more. I totally believe in this phrase!
"Perhaps even, some folks just feel they have a moral or ethical duty to help their fellow man. There is nothing wrong with anyone giving fair perceptions."
I want everyone to win and be successfull and that is why I will eventually go broke! The guy that sold me the shares wants me to get creamed! LOL!
Let's keep working to get answers and maybe this management can finally get their act together and make this a success for everyone! The potential is there!
realest; I respect your posting and knowledge of this company. I do not see any way that the O/S are even close to the 600M level. I doubt there are over 400M. Until the t/a is ungagged it is pure speculation and we are working to get the t/a ungagged! Agree with you on the A/F's. There are so many forces coming together at the end of 2006. Reverse merger and Country Club deals. I would like to see the reverse merger done and immediately after the new company is active post the AF's through Q3 2006. My understanding is they are done through Q3. JMHO!
Happy Holidays to you!
Binzur
First we do not allow the dreaded "S" word here! LOL! I know first hand what you are talking about and I agree! Well said!
I agree to a point! Authorized shares do not mean outstanding shares. Two different animals. We can have a gazillion Authorized shares but only a million shares outstanding then everything is based on the O/S shares.
This was not done at the time of the PR. I believe it was just done within the last week. 12/13/2006 to be exact. I won't sugar coat it and all eyes will be watching and are watching.
This does not change the book value at all.
Here is the deal on A/S. Realest had posted and I have confirmed previously in a post here and will again that the A/S on file with the SOS of Delaware is 2.02 Billion. This was done very recently. I believe that was done for the reverse merger. I do not agree with that and I know it has been brought up with Ed in a conversation I trust. This was not done to dilute! JMHO!
I am working to get in touch with Ed myself. This move to raise shares to me was quite upsetting. At a time when there are many postives this is done and the investors get spooked. I don't blame them because of the past! I believe this was done in preparation for the reverse merger, not to dilute and dump into this market. I prefer to look forward and not dwell on the past. I choose to be mindfull of the past but working to a better future. I also believe in holding CEO's to their word!
My understanding is the company for the OTCBB reverse merger has below 1mil shares. They were looking at three and I believe it has been narrowed down from there. Ed understands that there are many many motivated people watching this. I will give him the benifit of the doubt on this but have some very direct questions I want answered. I will post the answers when and if I get them! Unlike others I have NOT spoken to him to this point.
Happy Holidays
Binzur
Not in this area. I believe from other input that houses will tend to range from 200K-400K in the area. There are also some houses on big pieces of land around the golf course.
Did they have news. I was watching and all of a sudden it took off! It is tough to watch with all of the small block trades and looked like a Christmas tree on my screen. I did get in and out on VPFI! Nice 70% profit. Thanks.
They are getting a great buy price on almost 200 acres of land including the golf course. There are nice houses being built in the area where the golf course is. They are looking to develop the non golf course land for houses etc. They aren't spinning off either hotel and are taking IBAC into more of a real estate direction and spinning off the food service in the other direction.
Again if what I understand to be true they are getting the golf course at a great price! JMHO!
OOOPs better cover! $7.18 and running!
I believe they correct fat finger mistakes! At least I have heard of that happening in the past. Wasn't my trade on either side but if you want my shares I will sell them to you for .027!
I have no problem with you sharing what you find! Mick our moderator calls it the positives and the negatives. Do it in a respectful manner like this post!
Happy Holidays!
Binzur
Dam! I saw up 1012% and thought we had gone to the moooooon! LOL! Good news is it was a buy! Just not my shares!
I firmly believe in allowing all points of views on these boards. As an assistant moderator here I can delete posts. Any board member can TOU any member and Matt makes the decision to ban someone. Bashers are bad but no worse than the pumpers! Many times the pumpers have more success. There are more of them, they are trying hard to get the price to go up so they are yelling buy buy buy! LOL! To the MOOOOOOOOOOOOOOOOOOON!
It doesn't make sense to me to bash the stock I own! There is only one thing that can come of my successfully getting my negative message through to other investors and that is the price of the stock I own goes DOWN! Does that make sense? Only if I am really looking to buy more cheaper! LOL!
So you answered my question. Yes you own the stock..."a lot of it". So why do you continue to bash the stock and the company you own on this board? That is pure ridiculous! You continue to own the stock. With what you believe is happening with the company it is like you are holding open your pockets with a blindfold on at a pick pocket convention!
Get out, move on, hire an attorney but your continued over and over bashing is beginning to look like spam on this board! It is just really growing old! You have made your point! Move on! Enjoy the holidays!
I don't want the SEC investigating any company I own or own stock in! That again makes no sense if you own "a lot of it" as you say!
liable one question. Do you own this stock? If you do why do you continue to bash the CEO? That makes no sense!
If you don't then why are you here?
That is why I confirmed it so everyone elso doesn't have to call! If people look at my posting history here I am definately not considered a pumper.
Spoke to T/A and you are correct. They gave me the same information.